Sanuk GM Departs
Sanuk General Manager Magnus Wedhammar has departed the brand, SES has learned.
Magnus, an avid surfer, joined Sanuk in 2016 after 20 years of experience at brands such as Sperry Top-Sider, Converse and Nike.
He was brought in to lead Sanuk after parent company Deckers Brands moved Sanuk from Orange County and integrated it into Deckers headquarters in Goleta near Santa Barbara.
Prior to Magnus, the brand was led by Jake Brandman, a Deckers executive who was appointed to lead Sanuk post acquisition.
Deckers acquired Sanuk in 2011 for $120 million in cash. In 2010, Sanuk had approximately $43 million in annual revenue.
Sanuk has struggled under the Deckers umbrella. Initially the brand posted big growth with revenue reaching a high of $114 million in fiscal 2015, according to Deckers financial statements.
However, the brand ran into trouble with the distribution decisions that had propelled some of that growth, and product diversification strategies. In the past few years, the brand has been focused on improving brand health and cleaning up distribution.
In the most recent full fiscal year, Sanuk revenue totaled $82.6 million, a decline of 9.1% vs. the prior year. In the current fiscal year, Sanuk’s total revenue is expected to decline 30%, according to Deckers.
It is unclear if a new Sanuk GM will be named.
Several top Sanuk executives remain the same, including Erik Ecklund, Senior Director of Sales, and Seth Pulford, Director of Marketing.
Wendy Yang continues to lead the Deckers Performance Lifestyle Group, which includes the Sanuk, Hoka and Teva brands.
Here at SES, we always enjoyed talking with Magnus, and we wish him the best of luck in the future.